Mattel shares soar 9% on jump in revenue, earnings
Mattel Inc.
MAT,
shares were up 9% in after-hours trading Thursday after the toy maker reported fiscal third-quarter results that blew past Wall Street estimates. Mattel reported net income of $316 million, or 91 cents a share, compared with net income of $70.6 million, or 20 cents a share, in the year-ago quarter. Revenue jumped 10% to $1.63 billion from $1.48 billion a year ago. Analysts surveyed by FactSet had expected net income of 39 cents a share on revenue of $1.465 billion. Mattel shares are down 4% this year as it continues to feel the effects of the pandemic. The broader S&P 500 index
SPX,
has improved 7% in 2020.
